Walt Disney Company to Buy 21st Century Fox for $52.4 Billion

Walt Disney Company to Buy 21st Century Fox for $52.4 Billion

The Walt Disney Company and agreed to buy 21st Century Fox for $52.4 billion. The purchase includes the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses.

“ Disney has struck a deal to buy 21st Century Fox for $52.4 billion ”

Disney already owns a vast array of news, film and leisure companies and this deal will give it the scale to compete. 21st Century Fox was formed in 2013 as a spin-off from News Corporation (21st Century Fox and News Corp), one of the world’s largest media conglomerate founded by Rupert Murdoch in 1979.

21st Century Fox is one of the world’s leading portfolios of cable, broadcast, film, pay TV and satellite assets spanning six continents across the globe. Reaching more than 1.8 billion subscribers in approximately 50 local languages every day, 21st Century Fox is home to a global portfolio of cable and broadcasting networks and properties, including FOX, FX, FXX, FXM, FS1, Fox News Channel, Fox Business Network, FOX Sports, Fox Sports Network, National Geographic Channels, Star India, 28 local television stations in the U.S. and more than 350 international channels; film studio Twentieth Century Fox Film; and television production studios Twentieth Century Fox Television and a 50 per cent ownership interest in Endemol Shine Group. The Company also holds approximately 39.1 per cent of the issued shares of Sky, Europe’s leading entertainment company, which serves nearly 23 million households across five countries.

The Walt Disney Company, together with its subsidiaries, is a diversified worldwide entertainment company with operations in four business segments: Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products & Interactive Media. Disney is a Dow 30 company and had annual revenues of $55.1 billion in its Fiscal Year 2017.